Iran oil sales

Iran completes second fuel delivery mission to Venezuela

The third and final vessel from a fuel-laden Iranian flotilla has entered Venezuela’s waters, completing a second such mission in less than a year. Five Iranian vessels had carried out the previous fuel delivery mission between May and June.

Energy

Iran preparing legal action against South Korea for non-payment

The Central Bank of Iran (CBI) is preparing to lodge an official complaint against South Korea, says a report, as Seoul refuses to return Iranian funds blocked in the country allegedly to comply with US sanctions on Tehran.

Trade

Tehran, Seoul agree to launch working group on humanitarian trade

South Korea and Iran have agreed to launch a working group on expanding humanitarian trade as part of efforts to maintain bilateral partnership within the scope of a US-approved sanctions exemption, a source close to the matter said.

Trade

Iran to sue South Korean banks for non-payment

Iran is taking a legal action to force South Korean banks to give Iran access to billions of dollars frozen under U.S. pressure, the Iranian Foreign Ministry announced on Saturday.

Trade

Iran’s strategic oil pipeline bypassing Strait of Hormuz to be launched early 2021

Iran has officially launched a $1.8 billion oil pipeline project which will provide the country with an alternative route for crude oil exports that are currently transferred through the Strait of Hormuz.

Energy

Iran sold gasoline to Venezuela at market price: Zanganeh

Petroleum Minister Bijan Zanganeh says the Iranian gasoline delivered to fuel-starved Venezuela last month was sold to Caracas at market price.

Energy

Rouhani urges push to release Iran assets in foreign banks

President Hassan Rouhani has urged the Central Bank of Iran (CBI) to continue following up on the release of the country’s frozen assets in foreign banks.

Trade

Iran urges South Korean banks to release its $7b oil money

Governor of the Central Bank of Iran called on South Korean banks to release Iran’s oil money frozen under US pressure, warning that the Islamic Republic reserves the right to take legal action under international law.

Trade

Fifth Iranian fuel tanker docks in Venezuelan port

The fifth and last tanker in a flotilla of ships carrying Iranian fuel has entered Venezuela’s state oil company Petroleos de Venezuela (PDVSA)’s El Palito refining facility.

Energy

First tanker carrying Iranian fuel reaches Venezuela despite US warning

The vessel has arrived in Venezuelan waters to help alleviate fuel shortages in the former oil-exporting nation. Tehran had warned of "consequences" if the US stopped the ship.

Energy